Notes March 7 - Geography of the Pacific Rim Notes March 7 2006 Political Economy and Development in East Asia All the Asian countries have the same

Notes March 7 - Geography of the Pacific Rim Notes March 7...

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Geography of the Pacific Rim Notes March 7, 2006 Political Economy and Development in East Asia All the Asian countries have the same agenda: to promote economic development and wealth creation. The prosperity of the people is the most important thing to these countries. This is so dominant to them because only North Asian countries (in the past) have been able to break out of the third world thing. The State itself is important: (how did the typical east asian “developmental” state achieve economic expansion and successfully integrate itself in the world’s economy? Japan, defeated in the second world war, now it is second only to the United States (and they have half of our population). South Korea, Taiwan, Singapore, etc. Even now in the south Malaysia, Indonesia, Thailand, they are all copying the early developers of Japan and Korea. They have been so successful thus far that they are being called “economic miracles”. Even China, who only opened itself up for trade in 1978 has had a 9-12% growth in its GDP making it the second leading producer in the world. Previously the IMF gave them money and then could say that Africa should emulate these Asian countries. In 1997 East Asia had a financial crisis the so called 1997 Asian Financial crisis, the collapse of Thailand’s currency, then Indonesia, and ending up with South Korea. (So right as the world was telling everyone to emulate Asia, Asia collapsed.) Then those who had said THIS is the reason the Asians are rich, were now saying THIS is the reason they collapsed. Many started asking, if everyone did imitate East Asia’s rise, is it universal? Or is East Asia unique, and it wouldn’t work
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